Geode Capital Management LLC Boosts Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

Geode Capital Management LLC increased its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,068,854 shares of the technology company's stock after acquiring an additional 49,888 shares during the quarter. Geode Capital Management LLC owned about 2.31% of Extreme Networks worth $51,385,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Byrne Asset Management LLC bought a new position in shares of Extreme Networks during the 4th quarter valued at approximately $30,000. Smartleaf Asset Management LLC grew its holdings in Extreme Networks by 385.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock valued at $37,000 after purchasing an additional 1,733 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Extreme Networks by 31.4% during the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company's stock valued at $52,000 after buying an additional 741 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Extreme Networks by 146.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company's stock valued at $83,000 after buying an additional 2,935 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Extreme Networks in the fourth quarter worth approximately $98,000. 91.05% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the transaction, the chief executive officer now owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EXTR shares. StockNews.com raised shares of Extreme Networks from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of Extreme Networks in a research note on Thursday, January 30th. Lake Street Capital raised their price objective on Extreme Networks from $15.00 to $16.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $22.00 price target on shares of Extreme Networks in a research report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Extreme Networks currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.30.

Extreme Networks Trading Down 0.8 %

Extreme Networks stock traded down $0.10 during trading on Tuesday, reaching $11.75. 677,062 shares of the company were exchanged, compared to its average volume of 1,470,053. The stock's 50 day simple moving average is $14.29 and its two-hundred day simple moving average is $15.62. The company has a market capitalization of $1.56 billion, a P/E ratio of -12.50, a PEG ratio of 3.06 and a beta of 1.57. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. Extreme Networks, Inc. has a 52-week low of $10.10 and a 52-week high of $19.24.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. On average, equities research analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the technology company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Extreme Networks Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation. The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.